Nattering Nabobs
01/30/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Federal Spending, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, inventories, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist, Q4 GDP
While naysayers dismissed today’s 3.2% Q4 annualized GDP growth number because 0.42% of it was from a rise in inventories, excluding them Q4 GDP was 2.8% while Q3 GDP was just 2.5%! Moreover, a drastic decline in federal government defense spending along with the government closure clipped 0.98% from Q4 GDP growth while residential construction, which had a lousy quarter, subtracted 0.32%! Housing will improve, and the closure was one-off.